DALLAS, June 7, 2017 /PRNewswire/ --
Puration, Inc. (USOTC: PURA) today announced that American Cannabis Innovations Conglomerated (ACI) has completed the acquisition of a controlling interest in PURA. ACI is a private equity backed rollup founded to combine a variety of leading young cannabis companies with complimentary offerings and synergistic operations. PURA is one of the first of five acquisitions in the cannabis sector ACI has planned for the near future. ACI is seeking to acquire early stage, undervalued businesses with intellectual properties validated by market tests, and commercial or consumer sales. ACI expects to accelerate the growth of acquired assets and improve the operating efficiency of acquired assets by improving access to investment, streamlining redundant functions and leveraging complimentary functions.
PURA Increase $3 Million Annual Revenue Target & Extends Operating Reach
PURA has revised its on-demand, online business plan presentation on the Company's website with updates to the Company's plan to achieve $3 million in annual revenue from its cannabis extraction operation. The revised plan increase is anticipated to add an additional $1 million to the topline and possibly as much as an additional $3 million in the event pilot product market tests with new extraction edible and beverage partners go well. The plan also outlines the Company's extension into the cannabis tourism industry initiated earlier this year in an agreement with ML Capital Group.
PURA Market Capitalization Improvements Summary - No Reverse or Forward Split
The common stock of PURA will remain traded on the OTC Markets with no forward or reverse split taking place in conjunction with the ACI transaction. ACI expects the potential for market capitalizations of PURA to improve by transitioning the Company toward better investment structures, with better terms, that are altogether better suited to the current and more mature stage of development. For instance, PURA recently announced a substantial convertible debt elimination in conjunction with the pending ACI transaction in addition to a $10 million funding commitment.
Learn more about PURA: purationinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure or prevent any disease.
Brian Shibley, CEO
SOURCE Puration, Inc.